Julie J. Olenn is a co-chair of the firm’s Private Wealth Practice. She has extensive experience working with high-net-worth individuals and families on their sophisticated estate planning matters. She concentrates her practice on multi-generational wealth transfer planning and trust administration, including structuring and modifying trusts for long-term success and addressing related estate, gift and generation-skipping transfer tax issues.
Ms. Olenn works closely with domestic and international clients to determine their personal and financial objectives, address their concerns and adapt their gift and estate plans and strategies as their goals evolve. She also works extensively with fiduciaries, family offices, private trust companies and private foundations to assist in their ongoing stewardship of family wealth, advising frequently on risk management and governance matters and related best practices.
Ms. Olenn also represents fiduciaries and beneficiaries in the litigation of contested trust, estate and tax matters and the negotiation of related settlements. She has counseled individual and corporate fiduciaries in matters related to trust construction, trust decantings and alleged fiduciary self-dealing and abuse of discretion. She has advised clients in matters relating to the rights of estate and trust beneficiaries (including adopted individuals), the interests of divorcing spouses in irrevocable trusts, and the modification of trusts to address diverging needs and interests.
Her prior experience as tax counsel for a national trust company gives Ms. Olenn particular insight into tax considerations from a fiduciary perspective, fiduciary risk management and successful long-term trust design. She regularly counsels individual and fiduciary clients on issues relating to trust design and administration, particularly in matters with significant income, gift, estate and generation-skipping transfer tax implications. Accordingly, a significant portion of her practice involves trust modifications and their related tax consequences, including, when advisable, negotiating nonjudicial settlement agreements or obtaining private letter rulings or court approvals regarding proposed modifications.
Ms. Olenn’s practice also includes probate and trust administration, tax planning for non-US citizens, pre- and post-marital agreements, family business planning and succession, and sophisticated charitable giving techniques. She advises clients on charitable giving vehicles and strategies for effective philanthropy, including family foundations and other means to engage future generations in the family’s philanthropic goals. She also counsels private foundations on tax, governance and management issues to assist in fulfilling their philanthropic missions.